Business tips from our Guest Speakers
We love having Guest Speakers at our events as they bring lots of priceless information and ideas with them.
Internationally-acclaimed Jamie Durie was passionate as he shared his life and business success story. Equally inspirational was magician Vinh Giang and 2013 South Australian Entrepreneur of the Year.
Maroondah BizWeek Top Tips
What we learnt from Jamie Durie
- Do a SWOT (strength, weakness, opportunities and threats) analysis on your business.
- Not all business ideas work - but continue to be resilient. Pick yourself up, dust yourself off and start again.
- Talk to people from businesses that you admire. Everyone likes to be appreciated and loves talking about their own business.
What we learnt from Vinh Giang
- Make the most of every opportunity. Some people aren't as fortunate, so we need to remind ourselves that we live in "heaven on earth".
- Do something that you love doing.
- Concentrate on what you are good at doing and get help with the other things.
- Keep five good people around you - for inspiration and support.
- Take the first step.
Tips from the workshops
- Don't forget to keep your relationships going - network and make appointments to meet potential clients.
- Don't make appointments for this week - as people are generally too busy to see you immediately. Ring to make appointments for a few weeks time when they are more available.
- You can get business support help from all levels of government - Council (bizmaroondah.com.au), State (business.vic.gov.au) and Federal (business.gov.au).
- Talk to your local Council to see if you need any permits to run your business - planning, building, health or local laws.
- Research your market before you start your business. IBISWorld can help you do your market research particular industries (the BizMaroondah team can assist you with this).
- A business mentor can assist your business if you get stuck.
- Who are your competitors? Study them to see what they do well and poorly. How are you different to them?
- Networking accounts for more than 87% of all business in today's market.
- Networking is about building relationships - give without expecting something in return.
- Work on your 30 second introductory spiel. Who are you? What do you do? Who are your potential customers? What are the benefits of your service/product?
- Communication includes verbal and non-verbal messages - 55% is visual, 38% is vocal (how your voice is used) and 7% are the actual words. So work on your appearance and voice too for a winning combination.
- Networking is about listening and connecting.
- Be aware of your macro environment forces (DENTPC) and any changes to them - demographic, economic, natural, technological, political/legal and social/cultural.
- Think of the 7Ps of your business's marketing mix - product/service (what are you selling), price (where are you positioned against your competitors?), place (online vs physical location), processes (how is quality of product and service mainted?), people (staff hiring and training), presentation (appearance and branding) and promotion (publicity…)
- What is your unique selling proposition?
- Who is your target market? How are you going to reach and promote to them?
- What is your contingency plan? If all fails what will you do?
- What do you do you do each day to promote your business?
- How do your customers buy? They identify a problem and need to solve it. Search, evaluate, decide which solution, purchase, receive product and review the solution. You need to assist them along their buying journey.
- There are five ways to establish a business online - your own website, your own business blog, third party website or blog, social media and Internet advertising or listing.
- Social media is about connecting, networking and two-way communication with your customers, suppliers and industry colleagues.
- Some social media platforms are Facebook, LinkedIn, Twitter, Google+, YouTube, Pinterest. What are your customers using? What are your competitors doing?